All Analysis articles – Page 90
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Analysis
2012 Pension Reforms: Six steps to compliance
If you read nothing else, read this . . .Employers need to identify the exact staging date on which their organisation will be required to auto-enrol all employees into a qualifying occupational pension scheme or the national employment savings trust (Nest).Employers should carry out strategic and budgetary analysis of their ...
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Analysis
2012 Pension Reforms: Start getting up to speed
If you read nothing else, read this …Employers should budget now to manage the extra costs of all staff automatically enrolling into a pension scheme with compulsory minimum contributions.Employees earning more than the personal income tax allowance of £7,475 will be automatically enrolled into a pension scheme from 2012 onwards.Initially, ...
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Analysis
2012 Pension Reforms: Sponsor's comment: Get into gear now for a new era in workplace pensions
Simon Fletcher, client relationship director at Johnson Fleming, says employers should waste no time in getting ready for the 2012 pension reformsIt is widely recognised that people are living longer and not saving enough to give them the income they need in retirement. The Department of Work and Pensions (DWP) ...
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Analysis
Voluntary benefits & tax-efficient plans
Download a PDF of the Voluntary benefits and tax-efficient plans supplement†Interview with Karen Thompson of the Institute of Payroll ProfessionalsEmployers can add value while controlling costsKeep up with the latest regulationsDiscounts head the list of popular perks
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Analysis
Cabot Financial gives staff immediate rewards
Instant reward is key to the work culture at debt management company Cabot Financial (Europe), says Nicola SullivanWalking round the Kent call centre that is at the heart of debt management firm Cabot Financial (Europe)’s operations, the links between motivation, achievement and reward could not be more obvious. Giant ribbon-dressed ...
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Analysis
Voluntary benefits: Discounts head the list of popular perks
If you read nothing else, read this . . .Voluntary benefits with the biggest take-up among staff, according to industry experts are:Retail and leisure discountsChildcare vouchersCycle-to-work schemesHoliday purchaseHealth cash plansRetail and leisure deals top the chart of popular choices in voluntary benefits, says Jennifer PatersonOnce seen as the ugly duckling ...
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Analysis
Overcoming negative perceptions of employee assistance programmes
If you read nothing else, read this...Employee assistance programmes were first introduced to treat substance abuse problems.Other common stigmas associated with EAPs are issues with seeking help and confidentiality.Employers can help dispel these fears by regularly communicating exactly what EAPs are, what they can be used for and how they ...
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Analysis
Voluntary benefits: Keep up with the latest regulations
If you read nothing else, read this . . .From 6 April 2011, tax relief up to £55 a week on childcare vouchers will be restricted to basic-rate taxpayers.HMRC has issued guidelines on what employers should charge as a fair market value when transferring a bicycle offered through a cycle-to-work ...
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Analysis
Voluntary benefits: Employers can add value while controlling costs
If you read nothing else, read this …Voluntary benefits can play an important role in overall reward strategy by giving employees a total view of their reward package and the benefits available to them.The savings made through voluntary benefits can be shown as an approximate value on total reward statements.Developing ...
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Analysis
Gender pay gap persists
If you read nothing else, read this…Under the Equality Act 2010, employers can no longer use secrecy clauses to prevent employees from discussing pay rates.According to figures from the Office of National Statistics, the median gender pay gap for full-time workers in the private sector is 20.8%.Employers can identify any ...
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Analysis
Voluntary benefits: Interview with Karen Thompson of the Institute of Payroll Professionals
Shifting legislation is one of many factors to consider when introducing tax-efficient benefits, Karen Thompson of the Institute of Payroll Professionals tells Debbie LovewellIn recent years, speculation has been rife over the future of tax-efficient benefits. Moves such as the former Labour government’s removal of tax breaks on the home ...
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Analysis
Benefits to support working parents
If you read nothing else, read this...Childcare vouchers and on-site nurseries are flexible, tax-efficient ways to cover staff childcare costs.Emergency childcare is a back-up service that can be offered as a core benefit, a voluntary benefit or as part of a flexible benefits package.Flexible working encompasses part-time working or flexible ...
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Analysis
Switching from defined benefit to defined contribution pension can be a positive step
If you read nothing else, read this…Changes in life expectancy, the economic downturn and mobility in the labour market have contributed to the shift from defined benefit (DB) to defined contribution (DC) schemes.Many staff perceive DB plans to be of greater value than DC, but this is not necessarily so. ...
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Analysis
Is an active or passive default fund best for DC pension schemes?
If you read nothing else, read this...Passively managed default funds are set up to track various indices, for example the FTSE 100. The fund is managed by a computer program linked directly to the stock market that is being tracked.Actively managed funds, using human intervention, aim to outperform indices.Passive funds ...
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Analysis
New accounting standards will affect car lease arrangements
If you read nothing else, read this…A final standard of the lease accounting amendments by the International Accounting Standards Board will be published next year.The amendments will require employers to show leased assets, including cars, on their balance sheets. The changes will affect all employers that account to IASB standards.The ...
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Analysis
Health and wellbeing: Engaging sick employees with return to work objective
If your read nothing else, read this…When dealing with staff suffering from conditions that can potentially led to long-term illness, early intervention, which ideally makes use of occupational health services, is crucial.A good relationship between employee and line manager is key, with the focus on what can be done ‘with’ ...
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Analysis
Fleet review can save costs
If you read nothing else, read this...A fleet review will typically cover four key areas: fleet policy, health and safety, acquisition method and company car supplier.If performed properly, a review can reduce the operating costs of an organisation's fleet by between 10% and 15%.Organisations may find they have to conduct ...
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Analysis
Technology is changing company fleets
If you read nothing else, read this...The new generation of in-car technologies include automatic braking, parking and steering, stability control, cruise control, adaptive lighting, speed limiting and environmental innovations.Telematics-based systems include GPS, mileage capture, vehicle tracking and fuel cards.Mobile devices are expanding what data can be collected.Before investing in new ...
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Analysis
Green cars can be high-spec too
If you read nothing else, read this...More than 60 sub-120g/km car models are now available from over 25 manufacturers in nearly 400 variants.P11D benefit calculations are based on how environmentally friendly a car is.Cars emitting less than 120g/km of CO2 currently attract the lowest rate of company car benefit-in-kind tax.Green ...
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Analysis
Share schemes need effective communication
If you read nothing else, read this...When rolling out a share plan, employers should consider corporate strategy, staff demographics and the type of share plan on offer, and then tailor communication to these factors.Communication of the scheme should continue throughout the plan's lifecycle, rather than just once a year.Younger staff ...